Inflation May Worsen As FG’s Borrowing From CBN Hit N19trn   The Federal Government’s total borrowing from the Central Bank of Nigeria (CBN) through Ways and Means Advances rose from N17.46tn as of December 2021 to N19.01tn as of April 2022. According to data from the CBN,...

Russia-Ukraine: Rising Shipping Costs May Worsen Inflation In Nigeria - IMF   The International Monetary Fund has said rising shipping costs as a result of the ongoing war between Russia and Ukraine may worsen inflation in Nigeria, and other nations in the world. The Washington-based lender disclosed...

Nigeria's inflation rate fell to 15.6% in January 2022, reversing an upward trend exhibited in December 2021 after it increased to 15.63%. The National Bureau of Statistics (NBS) released the consumer price index report. Compared to December, the headline index increased by 0.34% points to 1.47%...

Banks’ Forex Ban: Dollar Scarcity, Inflation, Firms’ Closure Imminent, Experts Warn   Financial analysts and economic experts have expressed worry over the plan by the Central Bank of Nigeria to stop the sale of foreign exchange to Deposit Money Banks by December this year. The economists, who...

Nigerian importers have reacted angrily to a recently implemented policy of the Central Bank of Nigeria that requires foreign suppliers to register on its website and abide by its pricing rules. They warn that the upcoming policy will result in a shortage of goods in...

Rice, Beans, Tomato Jerked Up December’s Inflation   The eight-month reduction in Nigeria’s inflation was broken in December following a 0.23 percentage point increase as a result of the movement in the prices of mainly rice, bean and tomato. Economic Confidential had reported that the 15.63 inflation...